Brendel Financial Advisors LLC Lowers Stock Holdings in Tesla, Inc. $TSLA

Key Points

• Brendel Financial Advisors LLC reduced its position in Tesla, Inc. by 7.5%, owning 9,622 shares worth approximately $3.06 million as of the end of the last quarter.
• Several brokerages have issued ratings on Tesla, with HSBC maintaining a "reduce" rating and a target price of $120.00, while Canaccord Genuity set an increased price objective of $333.00 and rated the stock as a "buy."
• Tesla reported a net loss in earnings for the last quarter, with an EPS of $0.40, falling short of the consensus estimate of $0.43, and revenue of $22.50 billion, which was below analyst expectations of $23.18 billion.

Brendel Financial Advisors LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,622 shares of the electric vehicle producer's stock after selling 782 shares during the quarter. Tesla makes up approximately 1.7% of Brendel Financial Advisors LLC's portfolio, making the stock its 25th biggest position. Brendel Financial Advisors LLC's holdings in Tesla were worth $3,057,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TSLA. Vanguard Group Inc. increased its position in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after buying an additional 849,091 shares in the last quarter. Amundi increased its position in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after buying an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. increased its position in Tesla by 17.6% in the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock valued at $3,832,047,000 after buying an additional 2,211,300 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Up 0.2%

Shares of TSLA traded up $0.87 on Tuesday, hitting $435.08. 38,825,473 shares of the stock traded hands, compared to its average volume of 103,012,313. The company has a market capitalization of $1.45 trillion, a PE ratio of 251.49, a P/E/G ratio of 14.86 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The business has a 50 day simple moving average of $343.03 and a 200 day simple moving average of $309.87. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the business earned $0.52 EPS. Tesla's revenue was down 11.8% on a year-over-year basis. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares of the company's stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,606 shares of company stock valued at $77,360,462. Company insiders own 19.90% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Stifel Nicolaus set a $440.00 price objective on Tesla in a report on Friday, September 5th. Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday. China Renaissance reissued a "hold" rating and set a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Benchmark restated a "buy" rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, HSBC restated a "reduce" rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus price target of $326.74.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.